Jul 2, 2008

Euro 2008 generated Euro 1.4 billion

Euro 2008 generated €1.4 billion: StudyMUMBAI: The total economic impact of the recently concluded Euro 2008 event will be at least €1.4 billion, according to Mastercard research.Moreover women played a key role in the recently concluded Euro 2008. They contributed at least €140 million to commerce around the tournament, according to an economic study commissioned by Mastercard which is one of the sponsors of the Uefa European Football Championship.Women will be responsible for an economic boost equivalent to more than €4 million per game, the study elaborated.The figure consists of female spending on football related items, such as on merchandise, food and beverages, accommodation, transport and television sets. The study also notes that women were also likely to spend more away from football on retail therapy, holidays and entertainment, while the event was on.Given socio-cultural differences between European nations, the new study suggests that women will account for approximately 10 per cent of the total economic impact of the tournament. In some countries, such as Germany or Sweden, women can account for upwards of 30 per cent of the local economic impact.The new research highlighted that the size of the economic impact of women is partly due to the football industry waking up to the commercial potential of female support. Women engaging with football have been found to be more likely than their male counterparts to buy replica strips, and actively participate in competitions.Top football players are now icons that cut across a wide range of markets accessible to females, driving sales to some women of items such as posters and consumer magazines featuring footballers and their personal lives.During the event female fans were prominent among the throngs enjoying themselves in Fan Zones throughout Austria and Switzerland prior to their teams' matches. While female fans at the tournament are busy spending on replica shirts, face-painting and food, women following the games from home will contribute to increased newspaper and magazine sales, replica shirts and trips to bars, pubs and shops.The Mastercard study also predicts a consumer and commercial spending upsurge in sales of sponsors' products and services, electronic and print media advertising, telecom and new media services, sports apparel and equipment, magazines and newspapers, official merchandise and memorabilia and betting and gambling services.Linked to driving commerce, the new research also suggests that the event will influence participation in football, generate a transnational and local 'buzz', increase brand equity for nations and organisations involved, increase fan equity - the emotional link between a fan and their team, and international goodwill and respect.MasterCard Europe head of sponsorship Paul Meulendijk said, "Uefa Euro 2008 is proving once again that football is a truly universal sport, watched by men and women across the world. Our research at the heart of football commerce shows that females are making a significant economic contribution - upwards of €4m every game - thanks to Uefa Euro 2008."On a broader basis, our research shows there is huge interest in Austria and Switzerland – in the stadiums, at the Fan Zones in each city, and in bars and restaurants, as well as with sales of televisions and food and beverages to watch the games back home around Europe. Ultimately, the tournament is providing priceless moments to fans and a concrete boost to the economy."Professor Simon Chadwick a sport business experts who conducted the MasterCard research, said, "This research clearly demonstrates the rising financial significance of females in the football industry. Whether women are committed fans or spending elsewhere around the big games this summer, the fairer sex is making an important economic contribution. The football industry is waking up to the spending power of female supporters and is increasingly adapting their products to suit them."